Major companies, such as Google, Amazon, Citigroup and BlackRock, have announced significant layoffs within their firms, contributing to the overall reduction of the white-collar workforce.

The ongoing job cuts are being driven by a combination of continued economic uncertainty, the ascension of artificial intelligence and rightsizing companies as a result of pandemic-fueled hiring sprees. These trends reflect the broader challenges and unease shaping the job market, particularly in the white-collar sector.

In January so far, 58 tech companies have laid off a combined 7,785 workers, according to Layoffs.fyi, as they look to refocus their operations and—in some cases—devote resources to AI-based projects.